Building Hope in the City

Analysis

Building Hope in the City is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Building Hope in the City reported income of $4.5m and spending of $4.2m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $4.5m (+164%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 129%. Over the whole period it spent 75% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Building Hope in the City sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Bodhi Buddharealm Society ($4.5m), Epic International Corporation ($4.5m) and BSF International LLC ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $96k (2.3% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $7.9m against liabilities of $1.8m, net assets of $6.1m. It reported 131 employees.